Question

what do you mean term auction ?

Answer 1

HEY MATE

HERE IS YOUR ANSWER :-

_____________________________
________________________________

✨ AUCTION :- when a commodity is sold by action, the bits are made by the buyer whosoever makes the highest bid, gets the commodity which is being sold the buyers make the bid taking into consideration the quality and quantity of the commodity.

__________________________
I hope it helps you ✌✌✌✌✌✌

Answer 2

$\huge \boxed{ANSWER}$

Auction:- A public sale in which goods or property are sold to the highest bidder.